subject: Asia Booming Healthcare Sector (morgan Capital &research) 5 May 2010 -by David Wang (research Analys [print this page] Asias healthcare sector is set to boom according to Morgan Capital & Research,. The research centre performed an annual research and data consolidation on the healthcare sector of 18 major Asian cities. The number of Americans and European seeking alternative healthcare from Asia has increased significantly over the last decade and the number is set to further increase as China and India middle class income group continue to grow. Such a growth according to Morgan Capital & Research will help increase the demand for higher quality of healthcare in Asia. Both the private and government hospital or clinics are gearing up for the improvement of their healthcare facilities to cater for the increase in demand for better healthcare.
Seoul, Korea is one the leading destinations for medical tourism and healthcare in the world. The 1st Asia Medical Tourism and Global Healthcare Congress has taken place in April, 13-15th, 2010 in Seoul, Korea as a joint initiative between the Medical Tourism Association (MTA), Korean Health Industry Development Institute (KHIDI).
Millions of healthcare seekers/patients travel around the world each year looking for alternative healthcare and thus boosting medical tourism. Patients are traveling for medical care, dental care and cosmetic surgery are a common thing.
Singapore is a country of its reputation for cleanliness and its super-high standard of medical care. While it is not as cheap as say, India or Thailand but its quality of healthcare services and healthcare infrastructure is easily comparable with that of western countries and better than most third world Asian countries.
Asia set to be the new global healthcare epicenter
By Wong Siew Ying, Channel NewsAsia | Posted: 26 January 2010 2124 hrs
SINGAPORE: Healthcare revenues in Asia Pacific look set to reach new heights of US$277 billion this year.
According to business research & consulting firm Frost & Sullivan, the market is expected to grow at a compound rate of 12.2 per cent between 2009 and 2012.
Asia appears to be in a healthy position to be the new global healthcare epicenter, with more Asians expected to consume healthcare services as they become more affluent and conscious of their well-being.
Experts say global healthcare revenues could hit US$$1.6 trillion this year, and Asia Pacific will account for about a quarter of the market.
Observers say the region, driven by China and India, will make up 40 per cent of global revenues by 2015.
The pharmaceuticals and biotechnology segments will likely be the star performers, supported by early detection and better management of diseases.
"Oncology is a very, very large market, it is like US$4 billion today, and it is growing around 10 to 15 per cent in Asia," said Reenita Das, senior vice-president of Healthcare, Asia Pacific, at Frost & Sullivan.
"China has the largest number of cancer patients; the three largest cancers are lung, colorectal and breast cancer. Hence, that's a very big market to look at."
Analysts say the medical devices and imaging market will also do well, growing at about 10 and 13 per cent compounded annually in the three years to 2012.
All that is going to help spur research and development investment in the region, but it will not be limited to the healthcare industry. Experts say the InfoComm Technology sector will also benefit.
Said Das: "There's a lot of product in development. We are looking at in five years time, people having their whole genome, their genetic map transferred to their Blackberry, and it is going to be US$1,000 per genetic map."
Contract manufacturing is also on the rise as more global healthcare companies invest in new facilities, especially in India, China and Singapore.
